Petrobras to Deactivate of the Merluza Platform

Source: www.gulfoilandgas.com 8/7/2020, Location: South America

Petrobras informs that the Executive Board has approved the hibernation of the Merluza platform (PMLZ-1), located in shallow waters in the Santos Basin. The platform had already stopped production since March 2020, when there was an abrupt reduction in the demand for natural gas, and hibernation will allow the reduction of operating expenses and the transfer of professionals to other Petrobras units.

Hibernation will not impact the Merluza Polo divestment process and the supply of natural gas to the Baixada Santista market.

This decision is in line with the portfolio optimization strategy and the improvement of the company's capital allocation, aiming at maximizing value for its shareholders.


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